Alight Capital Management LP Makes New $2.30 Million Investment in Atlassian Co. (NASDAQ:TEAM)

Alight Capital Management LP acquired a new stake in shares of Atlassian Co. (NASDAQ:TEAM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 13,000 shares of the technology company’s stock, valued at approximately $2,299,000.

A number of other institutional investors have also recently made changes to their positions in the business. Asset Dedication LLC raised its stake in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Hollencrest Capital Management raised its position in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after purchasing an additional 119 shares during the last quarter. Trust Co. of Vermont boosted its stake in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Atlassian during the 2nd quarter worth approximately $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in Atlassian during the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $175.00, for a total transaction of $133,000.00. Following the transaction, the president now directly owns 152,534 shares of the company’s stock, valued at $26,693,450. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $175.00, for a total transaction of $133,000.00. Following the completion of the transaction, the president now owns 152,534 shares in the company, valued at approximately $26,693,450. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the sale, the chief executive officer now owns 294,076 shares in the company, valued at $41,329,441.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,211 shares of company stock valued at $38,945,503. 40.48% of the stock is owned by corporate insiders.

Atlassian Price Performance

NASDAQ:TEAM opened at $162.62 on Wednesday. The stock has a market capitalization of $42.29 billion, a PE ratio of -258.13 and a beta of 0.73. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The stock’s 50-day moving average price is $161.22 and its 200-day moving average price is $174.62.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The business’s revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.21) earnings per share. As a group, equities analysts expect that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TEAM shares. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a research note on Thursday, July 11th. Wells Fargo & Company reduced their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Morgan Stanley dropped their target price on Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Finally, BMO Capital Markets reduced their price target on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.69.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.